Prakash Gaba: BSE Sensex: (9004) the market yet gain unfolded as expected due to F&O expiry and we should see some more upside until the expiry on Thursday…some of Sensex heavyweights should propel the market up in the next few days… ...
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Market Information
Market Review for 28th January 2009
Posted on: Tuesday, January 27th 2009 and is filed under Market Outlook.
FII net sell at Rs 229cr, DII net buy at Rs 140cr
Posted on: Tuesday, January 27th 2009 and is filed under Market News.
Foreign institutional investors (FIIs) were net sellers of Rs 228.56 crore (provisional) today, according to data released by BSE.While FIIs made gross purchases of Rs 1,348.99 crore, gross sales totalled Rs 1,577.55 crore. Domestic institutional investors (DIIs) were net buyers of Rs 139...
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Buy SBI, target of Rs 1605: Motilal Oswal
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
Motilal Oswal has maintained its buy rating on State Bank of India (SBI) with a target of Rs 1605 in its January 24, 2009 research report. “SBI 3QFY09 PAT at Rs 24.8 billion is in line with our estimates. Key highlights of the results are: (1) deposits growth at 36% YoY and 12% QoQ,...
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Result Review: Reliance Industries
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
Reliance Industries (RIL’s) Q3FY09 net profit at Rs35 billion was down 10% y-o-y, but higher than consensus and our estimates. Profits beat estimates due to better-than-expected margins and higher-than-estimated ‘other income’, on the back of interest income from the money infused t...
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Angel Broking puts BUY on Bharat Forge
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
Bharat Forge (BFL) recorded 18.6% y-o-y decline in net sales (standalone) during 3QFY2009 largely on the back of 39.3% y-o-y decline in the domestic market while outside India operation sales grew 6.3% y-o-y during the quarter. In 3QFY2009, BFL clocked a decline in operating margins by 53...
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Ambit Capital keeps SELL on Inox Leisure
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
During Q3FY09,Inox reported a 7% y-o-y growth in topline and a 36% y-o-y drop at the PAT level due to deteriorating operating leverage. Despite strong performance of key movies during the quarter, the company reported poor numbers that were way below our estimates. In our opinion, the com...
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Result Review: Dish TV
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
In line with our expectations, Dish TV reported strong Q3FY09 performance with its topline growing at 72% y-o-y and 11% q-o-q. The company added 0.79mn subscribers during the quarter, taking the net subscriber base to 4.2mn. ARPUs for the quarter decreased from Rs151 during the last quart...
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India Infoline recommends Cipla; target Rs205
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
On the daily chart, the stock has bounced back from its multiple support levels of Rs170-174. Last few months have seen the stock moving in a narrow range of Rs172-196. If the stock is able to give a close above the levels of Rs195, it is likely to see a rally up to the levels of Rs205 in...
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Result Review: Ranbaxy
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
Share Khan: Ranbaxy Laboratories (Ranbaxy) has delivered a disappointing performance in Q4CY2008 and CY2008. The Q4CY2008 performance has been impacted due to a higher-than-anticipated foreign exchange (forex) translation loss of Rs553 crore (as compared to our estimates of Rs212 crore), ...
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Anand Rathi Securities keeps HOLD on Voltas
Posted on: Tuesday, January 27th 2009 and is filed under Brokerage Recommendations.
For Q3FY09, Voltas saw a 30% y-o-y revenue growth, which was in line with our estimate. Sales in the EPS segment declined 31% y-o-y, though the electro-mechanical projects and services (EMPS) segment saved the day with a 67% y-o-y jump. The order backlog in the EMPS segment stands at Rs5...
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